Credit Suisse plans callable contingent income notes linked to S&P 500

By Susanna Moon

Chicago, Feb. 2 – Credit Suisse AG plans to price callable contingent income securities due Feb. 18, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if the index closes at or above the coupon barrier level, 75% of the initial index level, on the observation date for that quarter.

The payout at maturity will be par plus the contingent coupon unless the index finishes below the 60% knock-in level, in which case investors will be fully exposed to any losses.

The notes will be callable at par on any interest payment date beginning Feb. 18, 2017.

Morgan Stanley & Co. LLC is the distributor.

The notes will price on Feb. 12 and settle on Feb. 18.

The Cusip number is 22546VWC6.

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